SBA Communications Corporation $SBAC Shares Purchased by AG2R LA Mondiale Gestion D Actifs

AG2R LA Mondiale Gestion D Actifs increased its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 14.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,795 shares of the technology company’s stock after purchasing an additional 846 shares during the quarter. AG2R LA Mondiale Gestion D Actifs’ holdings in SBA Communications were worth $1,596,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of SBAC. GAMMA Investing LLC lifted its holdings in shares of SBA Communications by 38.6% during the first quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company’s stock worth $370,000 after purchasing an additional 469 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of SBA Communications by 75.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 14,614 shares of the technology company’s stock worth $3,215,000 after purchasing an additional 6,272 shares during the period. Janney Montgomery Scott LLC lifted its holdings in SBA Communications by 11.1% in the first quarter. Janney Montgomery Scott LLC now owns 6,084 shares of the technology company’s stock valued at $1,339,000 after acquiring an additional 608 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in SBA Communications by 27.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 1,985 shares of the technology company’s stock valued at $437,000 after acquiring an additional 431 shares during the period. Finally, Asset Management One Co. Ltd. lifted its holdings in SBA Communications by 9.6% in the first quarter. Asset Management One Co. Ltd. now owns 44,973 shares of the technology company’s stock valued at $9,895,000 after acquiring an additional 3,923 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on SBAC. Raymond James Financial set a $265.00 target price on SBA Communications and gave the company a “strong-buy” rating in a report on Tuesday, August 5th. JMP Securities set a $280.00 target price on SBA Communications and gave the company a “market outperform” rating in a report on Tuesday, August 5th. Bank of America downgraded SBA Communications from a “buy” rating to a “neutral” rating and reduced their target price for the company from $260.00 to $230.00 in a report on Wednesday, August 27th. KeyCorp reduced their target price on SBA Communications from $280.00 to $235.00 and set an “overweight” rating for the company in a report on Wednesday, September 17th. Finally, UBS Group dropped their price target on SBA Communications from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $242.40.

SBA Communications Trading Up 1.3%

SBA Communications stock opened at $198.68 on Friday. The stock has a market cap of $21.33 billion, a PE ratio of 25.25, a P/E/G ratio of 2.09 and a beta of 0.82. The stock has a 50-day moving average price of $199.49 and a 200 day moving average price of $219.08. SBA Communications Corporation has a 52 week low of $185.45 and a 52 week high of $247.04.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.07. The firm had revenue of $698.98 million during the quarter, compared to analysts’ expectations of $670.73 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%.The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business posted $3.29 EPS. SBA Communications has set its FY 2025 guidance at EPS. On average, equities analysts predict that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 21st were given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Thursday, August 21st. SBA Communications’s dividend payout ratio (DPR) is currently 56.42%.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.